Cryptocurrency Tax Preparation

In the ever-changing world of cryptocurrency, it is hard enough to keep up with all the different crypto coins (such as Bitcoin), wallets, and crypto exchanges, much less trying to figure out what your tax reporting responsibilities are.

At MSNS Financials LLC, we have a comprehensive crypto tax service to help you not only calculate your gains and losses, but also file other additional forms.

Tax Preparation Package

Our Cryptocurrency Tax Preparation Package Includes the Following:

Form 8949 Filing

The package takes care reconciling and reporting the gains and losses of all the crypto transactions for the entire year including airdrops.

FBAR Filing

FBAR filing (Report of Foreign Bank and Financial Accounts) may be required if you acquired Bitcoin or other altcoins on a foreign exchange. Failure to disclose crypto holdings can result in penalties assessed up to $10,000 or greater.

FATCA Filing

Similar to FBAR reporting, you may need to file 8938 if you have crypto coins held on a foreign exchange. Penalties can reach up to $60,000 for failing to disclose.

Cryptocurrency Partner Companies

Whether you are investing, mining, or using altcoins for payment, make sure you are setting your best foot forward from the start by working with a local Cryptocurrency Tax Preparation agent from MSNS. Give us a call now to start!

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